(IRS - Family Gift) My parents are a good source of low budget ( < 20k) loans.

I'm not one to kick a gifted horse in the mouth, but why would you want to limit your options for his benefit?   

My in-laws are gifting my wife and I $65000 to invest in buy and hold real estate.

I suppose there was a Quit Claim Deed transferring title to her and for tax purposes the property transfer is treated like a gift.

All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved.Burden of proof is on the person to PROVE they are not acting as an unlicensed broker.

But can be gifted funds for down payment and potential lender credit from bank.Much Success and Happy Holidays.Let me know if you have any questions.Regards,Joe Scorese

I buy gifts for people who have helped me all the time.

And never underestimate the power of an impromptu drop buy for no other reason than to drop off a Starbucks gift card!!! 

ETC.When it comes to friends and family, if you can't afford to make it a gift you can't afford to get involved in it at all.

I actually had a seller give me a closing gift because he was so happy I sold his home for him at his price with in a week of him meeting me.